Oct 25, 2024 | Insights
Most people believe that receiving a large inheritance from a loved one would be life-changing. At least one study, however, found that about one-third of Americans who had received an inheritance eventually experienced a decrease or no change in their wealth after...
Sep 24, 2024 | Insights
The ordinary meaning of the word residue is a leftover part or remnant. In estate planning, residue has a special meaning, referring to the portion of a deceased person’s assets that remain after all debts and taxes have been paid and gifts have been made to...
Apr 30, 2024 | Insights
Upon the death of the testator—the person who made the will—probate will be opened if the testator died owning accounts or property in their sole name and without a properly completed beneficiary designation form. Probate is the court-supervised process in which the...
Jan 24, 2023 | Insights
People often set up bank accounts or real estate so that they own it jointly with a spouse or other family member. The appeal of joint tenancy is that when one owner dies, the other will automatically inherit the property without it having to go through probate. Joint...
Jul 12, 2022 | Insights
A spouse’s death creates a difficult and demanding time for the surviving partner. As much as you might want space and time alone to process your grief, you may have certain responsibilities related to settling your deceased spouse’s affairs, including paying off...
